The Chartered Governance Institute UK & Ireland (CGIUKI) announced in May 2023 that, following a decision to prioritise its role as a standard setter and registration body, it is focusing on providing accreditation and training courses for individuals and organisations engaged in board performance reviews, and training courses for those seeking to engage an external board reviewer.
As a result of this decision, CGIUKI is no longer providing board performance reviews through its in-house board evaluation service, CGI Board Evaluation.
Explaining the reason behind the change, CGIUKI Chief Executive Sara Drake said:
“Board performance review is an important governance tool because it provides assurance to shareholders and stakeholders that boards are effective. In 2021, the Institute carried out a review into the effectiveness of independent board evaluation in the UK listed sector which identified that there was room for improvement in terms of the broader adoption of good practice and greater transparency on the part of both board reviewers and the companies using their services.
Consequently, we published a voluntary code of practice for providers of external board performance reviews to FTSE 350 companies, voluntary good practice principles for listed companies and guidance for listed companies when reporting on their annual board performance review The Institute launched its accreditation programme in 2023, supported by training designed to raise and maintain the standard of board performance reviews.
I would like to thank Simon Osborne and Geoffrey Shepheard for their hard work and expertise in leading CGI Board Evaluation since 2003 and I am delighted that we have reached agreement for them to take this forward with their launch of Conseo Board Review Limited. They are newly accredited providers and I wish them well with their new venture.”
Commenting on their new board review service, Simon Osborne and Geoffrey Shepheard said:
“We are delighted to announce the launch of Conseo Board Review Limited, which will allow us to continue helping boards by conducting rigorous and independent board reviews. An effective board performance review is a critical tool to challenge boards on composition, diversity, skills gaps, succession, board effectiveness and decision making and to assure continuous improvement.
We have carried out board evaluations for numerous organisations over the last 20 years, ranging from FTSE100 to small cap, AIM, private companies, regulators, Royal Charter and not-for-profit organisations.
We have been proud to deliver CGIUKI’s work in this area in the past and look forward to offering our services under our new banner. Do please take a look at our website www.conseo.co.uk to find out more about our team and our approach.”
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For further information, please contact:
Daniel Valentine, Head of Communications
dvalentine@cgi.org.uk
